Zacks: Brokerages Expect Global Payments Inc (GPN) Will Announce Quarterly Sales of $1.04 Billion
Equities research analysts expect that Global Payments Inc (NYSE:GPN) will post sales of $1.04 billion for the current quarter, according to Zacks. Twelve analysts have issued estimates for Global Payments’ earnings, with the highest sales estimate coming in at $1.05 billion and the lowest estimate coming in at $1.03 billion. Global Payments reported sales of $924.28 million during the same quarter last year, which indicates a positive year over year growth rate of 12.5%. The firm is scheduled to announce its next quarterly earnings report on Thursday, May 2nd.
According to Zacks, analysts expect that Global Payments will report full-year sales of $4.46 billion for the current financial year, with estimates ranging from $4.44 billion to $4.48 billion. For the next fiscal year, analysts expect that the firm will post sales of $4.77 billion, with estimates ranging from $3.69 billion to $4.94 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that that provide coverage for Global Payments.
Global Payments (NYSE:GPN) last announced its earnings results on Wednesday, February 13th. The business services provider reported $1.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.08. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.04 billion. Global Payments had a return on equity of 19.11% and a net margin of 13.43%. Global Payments’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period last year, the company earned $1.07 EPS.
Shares of NYSE:GPN opened at $136.52 on Friday. The firm has a market cap of $21.33 billion, a P/E ratio of 26.30, a P/E/G ratio of 1.33 and a beta of 1.20. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.03 and a quick ratio of 1.03. Global Payments has a 12-month low of $94.81 and a 12-month high of $137.13.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. Global Payments’s payout ratio is currently 0.77%.
In other news, Director Alan M. Silberstein sold 4,276 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $132.43, for a total value of $566,270.68. Following the completion of the sale, the director now directly owns 51,049 shares in the company, valued at approximately $6,760,419.07. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Cameron M. Bready sold 34,308 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $131.33, for a total value of $4,505,669.64. Following the completion of the sale, the insider now owns 138,520 shares of the company’s stock, valued at $18,191,831.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 212,629 shares of company stock valued at $27,541,772. Company insiders own 0.88% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of GPN. JPMorgan Chase & Co. grew its stake in shares of Global Payments by 14.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,520,530 shares of the business services provider’s stock valued at $575,914,000 after buying an additional 581,025 shares during the period. MML Investors Services LLC acquired a new position in Global Payments during the 3rd quarter valued at about $269,000. Bank of New York Mellon Corp boosted its stake in Global Payments by 4.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,128,906 shares of the business services provider’s stock valued at $143,822,000 after purchasing an additional 51,524 shares during the last quarter. American International Group Inc. boosted its stake in Global Payments by 5.3% during the 3rd quarter. American International Group Inc. now owns 55,932 shares of the business services provider’s stock valued at $7,126,000 after purchasing an additional 2,815 shares during the last quarter. Finally, Credit Suisse AG boosted its stake in Global Payments by 8.6% during the 3rd quarter. Credit Suisse AG now owns 215,766 shares of the business services provider’s stock valued at $27,486,000 after purchasing an additional 17,046 shares during the last quarter. Institutional investors own 98.79% of the company’s stock.
About Global Payments
Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments. The company operates in three segments: North America, Europe, and Asia-Pacific. It offers authorization services, settlement and funding services, customer support and help-desk functions, chargeback resolution, terminal rental, sales and deployment, payment security services, consolidated billing and statements, and online reporting services.
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